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5.) What kinds of information can management gain from an internal audit? What kind of information can they gain from an external audit?
5.) What kinds of information can management gain from an internal audit? What kind of information can they gain from an external audit?
2.) What is the difference between current and long-term assets? What is the difference between current and long-term liabilities? Why do you think that organizations must account for current and long-term items separately?
3.)How is the statement of cash flows different from the income statement? What are the uses of a statement of cash flows? What are the uses of an income statement?
7.) Describe the steps in the process of foreign currency translation when preparing consolidated financial statements of multinational firms.
